Pines Wealth Management LLC Increases Stock Holdings in Capital Group U.S. Multi-Sector Income ETF $CGMS

Pines Wealth Management LLC grew its holdings in shares of Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) by 20.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 28,921 shares of the company’s stock after purchasing an additional 4,966 shares during the quarter. Pines Wealth Management LLC’s holdings in Capital Group U.S. Multi-Sector Income ETF were worth $799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CGMS. Snowden Capital Advisors LLC boosted its holdings in shares of Capital Group U.S. Multi-Sector Income ETF by 44.5% in the fourth quarter. Snowden Capital Advisors LLC now owns 17,833 shares of the company’s stock worth $486,000 after buying an additional 5,492 shares during the last quarter. Continuum Advisory LLC raised its position in Capital Group U.S. Multi-Sector Income ETF by 17.6% in the fourth quarter. Continuum Advisory LLC now owns 13,376 shares of the company’s stock worth $365,000 after acquiring an additional 2,003 shares during the period. Novem Group purchased a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 4th quarter worth $2,595,000. Sunbelt Securities Inc. purchased a new position in shares of Capital Group U.S. Multi-Sector Income ETF during the 4th quarter worth $6,439,000. Finally, Aurdan Capital Management LLC bought a new stake in shares of Capital Group U.S. Multi-Sector Income ETF during the 4th quarter valued at $404,000.

Capital Group U.S. Multi-Sector Income ETF Price Performance

NYSEARCA:CGMS opened at $27.96 on Wednesday. Capital Group U.S. Multi-Sector Income ETF has a one year low of $26.08 and a one year high of $28.00. The business has a fifty day moving average price of $27.69 and a 200-day moving average price of $27.37. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.71 and a beta of 0.40.

Capital Group U.S. Multi-Sector Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 29th were given a dividend of $0.1371 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, August 29th.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.